Perspective
Dec. 1, 2011
US Customs: Bad things that can happen to importers
Importing is a tricky business - knowing what can go wrong is key. By F. Gordon Lee of Nossaman LLP
U.S. Customs and Border Protection has enormous penalty powers. U.S. Customs can impose monetary penalties against an importer for just about any indiscretion. U.S. Customs can penalize for not properly assigning the correct tariff classification to the imported product; for not paying the correct duty amount; for undervaluing merchandise; for claiming a duty preference that does not apply; for not properly marking merchandise with its country of...
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